Apple Q1 '10 financials - All-time highest revenue and profit

Apple Q1 '10 financials - All-time highest revenue and profit

Summary: Today is the day that Apple's Q1 '10 financials are released, and the company has delivered an all-time highest revenue and profit.

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TOPICS: Apple
13

Today is the day that Apple's Q1 '10 financials are released, and the company has delivered an all-time highest revenue and profit.

Here are the details:

  • Revenue of $15.68 billion (year-ago quarter $11.88 billion)
  • Net quarterly profit of $3.38 billion (year-ago quarter $2.26 billion)
  • 3.36 million Macs sold, representing a 33 percent unit increase over the year-ago quarter, representing 70% year on year growth in desktop sales (record Mac sales)
  • 8.7 million iPhones in the quarter, representing 100 percent unit growth over the year-ago quarter (record iPhone sales)
  • 21 million iPods during the quarter, representing an 8% unit decline from the year-ago quarter, first holiday quarter drop
  • iPod still top selling music player, and still gaining share internationally
  • iPod touch still managed 55% year on year growth
  • Gross margin was 40.9%, up from 37.9% in the year-ago quarter
  • International sales accounted for 58% of the quarter's revenue
  • Generated $5.8 billion in cash during the quarter, total cash $39.8 billion
  • Record quarter for iTunes store
  • Retail store sales increased 13% year on year
  • Around half of Macs sold are to first-time Mac owners
  • 70% of Fortune 500 companies deploying or piloting iPhone
  • Over 200,000 activated iPhones in China since beginning of November 09
  • Apple also chosen to adopt the Financial Accounting Standards Board's amended accounting standards, which will affect how the company accounts for certain products, in particular the iPhone and Apple TV - this has left analysts and pundits scrambling since no heads-up was given in advance (I'll let someone else explain that all to you!)

"If you annualize our quarterly revenue, it's surprising that Apple is now a $50+ billion company," said Steve Jobs, Apple's CEO. "The new products we are planning to release this year are very strong, starting this week with a major new product that we're really excited about."

I wonder what this "major new product" is? Anyone want to take a guess.

"We are very pleased to have generated $5.8 billion in cash during the quarter," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the second fiscal quarter of 2010, we expect revenue in the range of about $11.0 billion to $11.4 billion and we expect diluted earnings per share in the range of about $2.06 to $2.18."

During the cnference call, when asked a question about the benefits of AT&T, Tim Cook, COO, said that "AT&T is a great partner." Comments and thoughts on that one please!

Topic: Apple

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13 comments
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  • Too bad they never break out the iPod models.

    So you know how many iPhone OS devices were sold.

    Given that 3 of the top 4 spots at Amazon's iPod listing were iPhone OS
    devices, a good number of the iPods may have been the Touches?
    Bruizer
    • I think so...

      And I know a lot of people that have moved from Touches to iPhones. So iPhones may be digging into the iPod sales some. Which could explain some of the iPod drop, and the iPhone increase.
      Stuka
  • this shows the number of suckers in the US

    nice graphs!
    Linux Geek
    • Yep, getting less for not installing Linux:-) -nt-

      no text
      Bruizer
    • Let me take a guess

      They buy a Mac and wipe the drive and install
      Linux on it right? Cus people are switching in
      droves, if I am to understand you correctly.
      The one and only, Cylon Centurion
  • Microsoft still suffering the stigma of Vista?

    Apple's ads must still be working regardless of whether they are truthful or not.

    I'm somewhat surprised by the statistic regarding Mac sales in the current economic climate, especially when one considers sales of new computers with Windows 7 coincided with more than 2/3 of the quarter. Does that mean that Windows 7 is as much of a a bust as Vista? I don't think so, but apparently people who believe Apple advertising believe that it's so.
    djchandler
    • Note also PC sales are inflated by cheap Netbooks

      low profit items which Apple doesn't deal in.

      Apple's net profit is 3.38 BILLION
      Last quarter Dell was 337 Million

      Although I'm comparing different quarters (Dell is not a Christmas
      quarter) the numbers are still striking.
      Davewrite
      • And on that same score.....

        ...Apple boosted unit sales with price cuts last summer. More units, lower margin. iTunes and iPhone are becoming the big profit makers for Apple.
        Lester Young
        • ha dell sells monitors, printers, etc besides pcs

          so what's your point?

          Dell sells all kinds of things besides PCs so those Apple.

          MY point was that Apple Mac sales are up substantially in spite of no
          netbooks and is cleaning up the profits.
          Davewrite
        • Try reading the sentence...

          concerning gross margin. If by "lower" you mean "higher," then you're
          correct.
          msalzberg
    • It's growth of PC sales in general.

      The manufacturer with the highest growth rate is Toshiba, which recently pushed ahead of Apple in sales.

      Win7 is at about 8% of user share right now. Its adoption rate is about 4x that of Vista. There are a lot of Windows installations on Macs. People aren't running from Windows.
      Lester Young
      • Fact is IDC says Apple Mac sales up 33% vs PCs overall at 17%

        So mentioning toshiba etc is pointless.

        Apple's growth is outpacing the Windows PC guys overall.

        toshiba probably hurting Dell, Hp more than Apple.

        And they are not even counting Apple's iPhones, iPod touches which
        can run a 100,000 plus apps as computers.

        But they count PC netbooks, and PCs used as weighing machines,
        bank machines and cash registers!

        And if you say they can't count as iPod touches , then when Apple
        releases the iTablet which is just a big iPod Touch, will they count
        those???

        Apple sold more iPhones and iPod Touches in 2008 than All the
        Netbooks by all the manufacturers. Don't have 2009 numbers but they
        should be close.
        Davewrite
  • Why is it pointless, Dave?

    You appear to be looking at one PC manufacturer and saying that we can count it as a discrete value but that we're not allowed to do this for other, better performing, PC manufacturers?

    How strange.

    I suppose if we wanted an absolute reference we would need to discount all the Mac sales where the Mac is running Windows 7 mostly and not OS X. Looking at Net Applications stats though I fear that might be a considerably smaller figure.
    Sleeper Service